Royal Gazette

AM Best has affirmed the financial strength rating of A (Excellent) and long-term issuer credit rating of “a” (Excellent) of Nectaris Re Ltd, the operating subsidiary of Nectaris Holdings Ltd, both of…

Consumers paid 2.5 per cent more in February than they did a year ago for the basket of goods and services included in the Consumer Price Index, the Ministry of Economy and Labour reported today.
This…

February’s retail sales volume fell 4.4 per cent compared to last year, according to Retail Sales Index figures released by the Ministry of Economy and Labour.
In value terms, retail sales revenue rem…

The Covid-19 pandemic is still causing operational challenges in the shipping industry, Bermudian-based crude oil tanker company, DHT Holdings Inc, has reported.
DHT said the pandemic is hampering its…

Inflation was pegged at 2.5 per cent by government today, as Jason Hayward, the Minister of Economy and Labour, released the February 2022 Consumer Price Index publication from the Department of Stati…

A Bermudian-based company, prominent on the international stage, has joined forces with the island’s Olympic Games gold medalist.
Apex Group Ltd, the global financial services provider, has become a s…

Bermuda’s newest internet provider, Horizon Communications, has launched a range of new internet packages for businesses looking for high speeds and savings.
A spokesman for the company said Horizon’s…

The RG/BSX Index fell 40.99 (1.72 per cent) to close at 2,335.84 on the trading of one stock on the Bermuda Stock Exchange for the day.
BF&M Ltd. closed at $18.01, down $4.49 (20 per cent) on trad…

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermudian-based Nissan Global Reinsurance Ltd, the captive insurer for …

Paysafe Limited, the Bermudian-incorporated specialised payments platform, has reported a net loss for the first quarter of $1.2 billion.
The company said that due to a sustained decline in Paysafe’s …

Teekay Tankers Ltd, the Bermudian-based owner and operator of mid-sized crude oil tankers, has reported a net loss of $13.9 million in the first quarter.
That compares with a loss of $39.8 million in …

Bermudian-based SFL Corporation Ltd, the ship-owning company, has reported a net profit of $47 million in the first quarter.
Other preliminary results include operating revenue of approximately $152.4…

Bermudian-based Fidelis Insurance Holdings Limited has joined the Net-Zero Insurance Alliance (NZIA), convened by the UN Environment Programme’s Principles for Sustainable Insurance Initiative.
The co…

The “regulatory sandbox” used by Bermuda’s financial services supervisors is proving to be a hit in the fintech industry.
There are currently 14 companies with such licenses, including four with test …

When data protection legislation went into action in the United Kingdom in 2018, some companies were overwhelmed by requests for personal data files.
The European Union’s General Data Protection Regul…

Continuing a tradition of collaborating with Bermudian artists, local clothing designer Tabs has partnered with Shanna Hollis on their newest release of swimwear called Gotta’ Go Town, with a percenta…

Bermudian-based Conduit Holdings Limited, the parent company of Class 4 reinsurer Conduit Re, reported impressive premium growth as it delivered its first quarter trading update.
And analysts this mon…

To elevate its Enterprise Bermuda Incubator programme, the Bermuda Economic Development Corporation has partnered with a top Canadian business growth programme.
The BEDC is now working with The Accele…

Bermudian-based BF&M Limited has appointed Bruce Walker as EVP, group chief financial officer of the BF&M Group.
The company said Mr Walker has more than 25 years of extensive risk and capital…

Flex LNG Ltd, the Bermudian-based liquefied natural gas shipping company, has reported net income of $55.8 million for the first quarter compared to net income of $69.4 million for the fourth quarter …

Bermuda Business Development Agency’s New York City executive forum is today at One Liberty Plaza.
The Bermuda Executive Forum activities at Convene, in the heart of the city’s financial district, beg…

I didn’t fail one thousand times. The light bulb
was an invention with one thousand steps.

– Thomas Edison
Since we were children, most of us have been taught to avoid failure. In fact, if we…

At Hair of the Dog grooming on North Shore Road in Devonshire, the key word is “kind”.
Becky Outerbridge and her daughter, Hannah Outerbridge, are determined that their canine clients have a good exp…

The RG/BSX Index remained unchanged at 2,376.84, in the absence of any trading for the day on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited fell 76 cents (2.37 per cent) t…

Everest Reinsurance, the reinsurance division of Bermudian-based Everest Re Group Ltd, has announced that Jiten Voralia will join the company as senior vice-president and head of treaty casualty &…

SiriusPoint Ltd, the global specialty re/insurer headquartered in Bermuda, announced that it is involved in the autonomous vehicle technology through a strategic partnership with the insurtech managin…

Industry veteran Youssef Sfaif is to be appointed chief operating officer of Bermudian-based Mt Logan Re Ltd, effective July 1.
Mt Logan is the third party capital unit of Everest Re Group Ltd, the is…

Bermudian-based crude oil tanker company DHT Holdings Inc had a net loss in the first quarter of $17.3 million compared to a profit in the first quarter of 2021 of $11.6 million.
The company said the …

James River Group Holdings Ltd, the insurance holding company based in Bermuda, has reported first quarter net income available to common shareholders of $9.3 million compared to a net loss of $103.5 …

Maiden Holdings Ltd, the Bermudian-based holding company, has reported first quarter net income available to common shareholders of $1.6 million compared to net income of $71.7 million in the first qu…

Walkers and Walkers Professional Services are pleased to announce that senior counsel, Andrew Gibson, has been appointed to the role of director of legal at WPS.
WPS works in tandem with Walkers law f…

In today’s cash-strapped times, thrift stores are rapidly becoming a critical lifeline for local charities.
The Pals Thrift Shop on Point Finger Road in Paget has raised more than $1 million for the …

The RG/BSX Index remained unchanged at 2,376.84, with no trading for the day on the Bermuda Stock Exchange.
The Bank of N.T. Butterfield & Son Limited fell 11 cents (0.34 per cent) to $32.09 on th…

Bermudian-based RenaissanceRe has made a senior appointment to its Capital Partners team, hiring Keenan Press as a vice-president.
Mr Press will lead the investor due diligence function, reporting to …

Bermuda could join other countries as a signatory to a global understanding of privacy, allowing for personal information to flow freely between jurisdictions.
Alexander White, the island’s privacy co…

Tysers, the London-based re/insurance broking group with an office in Bermuda, has announced that Australian-based AUB Group has entered into a binding agreement to purchase the firm.
The reported pri…

Millennials and Gen Zs are invited to learn the fine art of networking at an upcoming event hosted by The Huddle.
The Huddle is a new platform created by coaching company Clarendon Wallace, aimed at p…

Apex Group Ltd, the global financial services provider based in Bermuda, has expanded its longstanding relationship with Aizawa Asset Management to provide services to their new Cayman fund, Ariake Se…

White Mountains Insurance Group Ltd, the Bermudian-domiciled financial services holding company, has signed a definitive agreement to sell NSM Insurance Group to investment funds affiliated with globa…

RenaissanceRe executive Justin O’Keefe has been elected vice-chairman of the board of directors at the Reinsurance Association of America.
Mr O’Keefe, who is based in Bermuda, is senior vice-president…

Regulatory veteran Ricardo Garcia has been appointed managing director of the Bermuda Monetary Authority.
Mr Garcia, who joined the BMA in 2013, will be responsible for the organisation’s supervision …

Realtors and government remain at loggerheads in a seven-year battle after what industry believed was unintended consequences from 2015 changes that removed the ability for work permit holders to buy …

Changes to Bermuda laws designed to stimulate economic investment have made it more difficult for international buyers to purchase condominiums, writes property lawyer Mathew Kelly in this opinion…

Digicel was Bermuda’s Speedtest Awards winner for mobile network speed during the third and fourth quarter of 2021.
Digicel yesterday announced the win from Ookla, a global leader in internet testing …

Only one Bermuda bank has taken action since the largest interest rate hike by the Federal Reserve in more than two decades.
The midweek hike of 50-basis points in the US Federal Funds Rate led to nea…

It’s déjà vu all over again. The actions of a few impacting the welfare of thousands.
Much was written last week about the British Virgin Islands and its leaders, concerning “possible corruption or ot…

Dear Dave,
Do you have any advice on how to start a carwash and detailing business? What things should I consider first, and what do I keep in mind over the long run?

– Andrew

Dear Andrew,
I’m ex…

FutureProof Technologies, the climate-smart P&C insurtech, has raised $6.5 million in capital led by Axis Digital Ventures, which works across Axis’ underwriting units to develop and grow strategi…

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has reported net income for the first quarter of $274.2 million compared to $135.6 million for the prior year quarter.
The company’s board o…